Financials Ha Tien 1 Cement

Equities

HT1

VN000000HT12

Construction Materials

End-of-day quote Ho Chi Minh S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
11,250 VND +0.45% Intraday chart for Ha Tien 1 Cement +0.45% -6.25%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Capitalization 1 5,704,052 6,657,906 8,527,462 3,949,456 4,579,079 4,292,886
Enterprise Value (EV) 1 8,055,487 7,942,446 8,527,462 3,949,456 4,579,079 4,292,886
P/E ratio 7.66 x 10.8 x 23.1 x 15.1 x 273 x 39.8 x
Yield 8.03% 6.88% 2.68% - - -
Capitalization / Revenue 0.65 x 0.84 x 1.21 x 0.44 x 0.65 x 0.58 x
EV / Revenue 0.65 x 0.84 x 1.21 x 0.44 x 0.65 x 0.58 x
EV / EBITDA 3.01 x 4.08 x 7.39 x 3.79 x 6.22 x 5.84 x
EV / FCF 5,032,241 x 5,760,373 x - 10,055,483 x - -
FCF Yield 0% 0% - 0% - -
Price to Book 1.07 x 1.23 x 1.65 x 0.77 x 0.95 x 0.82 x
Nbr of stocks (in thousands) 381,542 381,542 381,542 381,590 381,590 381,590
Reference price 2 14,950 17,450 22,350 10,350 12,000 11,250
Announcement Date 1/21/20 1/20/21 1/20/22 1/18/23 1/19/24 -
1VND in Million2VND
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net sales 1 8,838,625 7,962,629 7,064,342 8,917,959 7,049,026 7,363,500
EBITDA 1 1,897,475 1,631,513 1,154,337 1,042,866 736,216 735,500
EBIT 1 943,791 793,803 570,479 470,994 187,564 177,000
Operating Margin 10.68% 9.97% 8.08% 5.28% 2.66% 2.4%
Earnings before Tax (EBT) 1 930,681 767,699 461,773 324,423 24,688 135,000
Net income 1 744,718 615,492 369,860 261,450 16,918 108,000
Net margin 8.43% 7.73% 5.24% 2.93% 0.24% 1.47%
EPS 2 1,952 1,613 969.0 685.0 44.00 283.0
Free Cash Flow 1,133,502 1,155,812 - 392,766 - -
FCF margin 12.82% 14.52% - 4.4% - -
FCF Conversion (EBITDA) 59.74% 70.84% - 37.66% - -
FCF Conversion (Net income) 152.21% 187.79% - 150.23% - -
Dividend per Share 2 1,200 1,200 600.0 - - -
Announcement Date 1/21/20 1/20/21 1/20/22 1/18/23 1/19/24 -
1VND in Million2VND
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2022 S2
Net sales - -
EBITDA - -
EBIT - -
Operating Margin - -
Earnings before Tax (EBT) - -
Net income 1 160,678 97,028
Net margin - -
EPS 421.0 -
Dividend per Share - -
Announcement Date 7/21/22 1/18/23
1VND in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024
Net Debt 2,351,436 1,284,539 - - - -
Net Cash position - - - - - -
Leverage (Debt/EBITDA) 1.239 x 0.7873 x - - - -
Free Cash Flow 1,133,502 1,155,812 - 392,766 - -
ROE (net income / shareholders' equity) 14.2% 11.5% 7% 5.08% 0.34% 2.1%
ROA (Net income/ Total Assets) 7.13% 6.06% 3.92% 2.87% 0.19% 1.2%
Assets 1 10,449,840 10,163,171 9,424,805 9,097,063 9,003,819 9,000,000
Book Value Per Share 2 14,030 14,131 13,541 13,408 12,663 13,679
Cash Flow per Share - - - - - -
Capex 1 76,038 93,350 125,080 193,692 147,603 76,000
Capex / Sales 0.86% 1.17% 1.77% 2.17% 2.09% 1.03%
Announcement Date 1/21/20 1/20/21 1/20/22 1/18/23 1/19/24 -
1VND in Million2VND
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
1
Last Close Price
11,250 VND
Average target price
11,700 VND
Spread / Average Target
+4.00%
Consensus

Annual profits - Rate of surprise

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